Illinois Tool Works Inc. (NYSE:ITW) Holdings Raised by MML Investors Services LLC

MML Investors Services LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,229 shares of the industrial products company's stock after purchasing an additional 1,905 shares during the quarter. MML Investors Services LLC's holdings in Illinois Tool Works were worth $15,784,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Dean Investment Associates LLC bought a new position in Illinois Tool Works during the 3rd quarter worth $2,793,000. National Bank of Canada FI boosted its holdings in shares of Illinois Tool Works by 318.9% during the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock valued at $106,352,000 after acquiring an additional 308,935 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of Illinois Tool Works by 289.6% during the third quarter. Kovitz Investment Group Partners LLC now owns 30,201 shares of the industrial products company's stock worth $7,915,000 after acquiring an additional 22,449 shares during the last quarter. State Street Corp increased its holdings in shares of Illinois Tool Works by 1.2% in the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company's stock worth $3,277,127,000 after acquiring an additional 149,272 shares during the period. Finally, Stifel Financial Corp lifted its position in Illinois Tool Works by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company's stock valued at $460,533,000 after purchasing an additional 17,139 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup upped their target price on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a "neutral" rating in a research report on Monday. Evercore ISI cut Illinois Tool Works from an "in-line" rating to an "underperform" rating and raised their target price for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Jefferies Financial Group boosted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday. Wells Fargo & Company raised their price target on Illinois Tool Works from $236.00 to $250.00 and gave the company an "underweight" rating in a report on Monday, October 7th. Finally, StockNews.com raised shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $267.30.

Illinois Tool Works Price Performance

Shares of NYSE:ITW traded down $0.28 on Tuesday, reaching $273.79. 830,809 shares of the company traded hands, compared to its average volume of 1,040,484. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The stock has a market capitalization of $80.85 billion, a PE ratio of 23.68, a P/E/G ratio of 4.24 and a beta of 1.10. The company's 50 day moving average is $266.20 and its 200-day moving average is $251.93. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to analysts' expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works's revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $2.55 EPS. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works's dividend payout ratio (DPR) is currently 51.90%.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.